Sorri but SHANGHAI ONE SUCKS!!!
It may be D10 but it finishing and architecture looks like a GEYLANG CONDO!
No facilities. Only fit for KTV gals and part time student-hookers.
$1200psf also nobody wants to buy!
Sorri but SHANGHAI ONE SUCKS!!!
It may be D10 but it finishing and architecture looks like a GEYLANG CONDO!
No facilities. Only fit for KTV gals and part time student-hookers.
$1200psf also nobody wants to buy!
Fannie and Freddie: How the Fallout Could Affect You
By Ron Lieber The New York Times | 12 Jul 2008 | 04:37 PM ET
The stock market swoon over Fannie Mae and Freddie Mac this week has left many consumers scratching their heads, wondering if buying a home is a worse idea than it was seven days ago or whether to take down the “for sale” sign in the yard.
So now is a good time to step back and assess the landscape.
Thus far, the biggest damage has been mostly to Fannie’s and Freddie’s investors, though the overall stock market has recoiled as the companies stumbled. In the housing market, consumers are still moving into new homes, and people continued to close on new loans Friday.
But if you are shopping for a home or a mortgage or considering selling a home, you may wonder what will happen next if things get worse for Fannie and Freddie. Will mortgage rates rise, and home prices fall further? Could the troubles affect the rates you are charged for other loans? Answering these questions starts with a brief (I promise) primer on what the two entities do and why they’re important.
In the beginning, there’s a mortgage lender. It can lend you money it has taken in from deposits on checking accounts and certificates of deposit if it wants. But many lenders choose to sell most or all of their home loans once they make them, and then use the proceeds of the sale to make even more loans.
Fannie Mae and Freddie Mac are the buyers for many of these loans, which makes them crucial to the continued ability of companies to lend money to you and me for a house. Freddie likens itself to a wholesaler supplying a retail store: the retail store is a bank selling money.
Once Fannie and Freddie have bought enough loans, they turn many of them into bonds and sell those bonds to investors. Your mutual funds may hold many of them, something many consumers may just be noticing, after letting out a sigh of relief because they were not planning to buy or sell a home anytime soon.
The mortgage financing system hums along until Fannie and Freddie have trouble raising money to buy loans, or it costs them more to raise the money. And that’s what is happening now. “That increased cost must be passed along; it’s the nature of the beast,” says Keith T. Gumbinger, vice president of the financial publisher HSH Associates, where he has tracked mortgage rates for more than two decades.
The question then is how, if at all, any of these higher costs will be passed along through the mortgage lenders to consumers.
As of Friday, not much had changed, and mortgage bankers were putting on a brave face. “It is business as usual, and rates have held steady for the past two days,” said David G. Kittle, chairman elect of the Mortgage Bankers Association and chief executive of Principle Wholesale Lending in Louisville, Ky. He said the company locked in rates for one buyer and two people who were refinancing on Friday morning, as the stocks plummeted, and that the hand-wringing over Fannie and Freddie amounts to a “media feeding frenzy.”
Karen Shaw Petrou, managing partner of policy consultant Federal Financial Analytics, sees a remote possibility that mortgage rates could in fact fall. If the federal government took control of Fannie and Freddie, a possibility that the Treasury secretary, Henry M. Paulson Jr., seemed to discount in a statement Friday, the companies’ financing costs would probably drop some because government control suggests a government guarantee. Until now, the government has provided credit lines to the companies but stopped short of such a promise.
Many mortgage experts, however, expect rates to rise a quarter percentage point to half a point in the coming weeks. The average rate on Thursday for a prime 30-year fixed-rate nonjumbo mortgage was about 6.45 percent for someone not paying special fees known as points to lower the rate, according to HSH Associates data. That kind of spike wouldn’t be too unusual at a time when rates often rise and fall by at least that much over a period of weeks, for any number of reasons.
Over the longer term, a dysfunctional Freddie and Fannie could send mortgage rates higher than they would have been otherwise, relative to key market rates like Treasury securities.
For now, if you’re considering buying a house or refinancing a mortgage, and that rate rise is enough to make a difference, then maybe the deal is not affordable. “If someone is so tight that a quarter point kills a deal, they probably ought to be rethinking what they’re doing,” says Bert Ely, a banking consultant in Alexandria, Va.
For mortgage shoppers comfortable with loans at today’s prices, now is the time to lock in, or guarantee, an interest rate with the lender, which can effectively set the rate over the life of a fixed-rate loan. Given the current uncertainty, there’s always the possibility that lenders will be less willing to offer rate locks in the coming weeks.
Outside the mortgage industry, there is some concern that a further crippled Fannie and Freddie could make it harder for consumers to borrow in all forms. “There is a contagion effect. If investors in various kinds of loans get concerned about one kind of capital market, it can spread to other markets,” said Mark Kantrowitz, who runs the college financing site FinAid.org and saw this firsthand in student loans over the past year or so. “They tend to pull back from everything, not just their initial area of concern.”
All the consternation this week only highlights how much rests on the value of our homes and shows that loan pricing and availability can keep the value from falling further. “The implications run everywhere, through to consumer spending and state and local governments,” said Mark Zandi, chief economist of Moody’s Economy.com. “Anything that exacerbates the problem is very bad news. It’s just sticking a finger into an already deep and festering wound.”
Mr. Zandi said he thought the federal government would step in to stabilize the situation if mortgage rates rose much more than that quarter or half point.
The government might take any number of steps to buck up the two ailing entities. The bonds that Fannie and Freddie sell are held all over the world, by mutual funds and foreign governments. Any hint that those securities are in peril could further undermine faith in the United States economy, given that Fannie and Freddie were created and chartered by the American government.
In an election year, meanwhile, with the housing market already lousy in most places, the federal government will almost certainly do everything in its power to make sure that banks have continued access to Fannie and Freddie funds for loans to creditworthy home buyers.
Newbie
There are many subsales in D10 going for $1200psf.Originally Posted by Strange
Since these are subsales, meaning condos are brand new and not TOP yet.
Hence my statement of D10 condos going at $1200psf.
Many of these DR buyers do not have much knowledge of the SG property market. Jus because Government say this say that they go buy GL area condos for $1000psf. Work the rest of their lives off paying for a lemon.
Its a laughing stock really.
If i am one of the buyers of dakota now, i will just allow my option to lapse.
I'm saying this because i just cant bear seeing more people being cheated.
Newbie
Shanghai One has already TOPed for many years.
I'm talking about brand new Condos not TOP yet and going for around $1200psf.
I'm waiting to buy so i'm not going to say which ones.
You just have to study the area better. Its no rocket science.
I'm waiting for it to drop till $1000psf which should not be more than 1 year from now.
Just have to wait patiently, if not one can always go out and buy a $1000psf D14 GL LEMON Condo
from the website, it seems the introduction uses the same picture as the brochure of clover by the park....
hahahha.... i wonder if the marketing company are the same people!
was at the showflat, heard that the penthouse was sold at 3.5mio, really lots and lots of guts !!
cos its far from GL for the most obvious reasons although its in the same D14.
But dakota.....well u go down and take a look yourself.[/QUOTE]
Kembangan may not be near GL, but it is near Joo Chiat, another well known red light area.
Dakota is crap
Kembangan is no way a "high class" area as well. It is still D14 and the houses there are not fetching good psf. So the red light district label is still there.
Kembangan may not be near GL, but it is near Joo Chiat, another well known red light area.[/QUOTE]
If you want your properties to appreciate, avoid all D14 properties. Who wants to stay in the same location as prostitutes and foreign workers? If the walls are thin, you can even hear the bonking going on all night.
Murders and fights are commonplace, and so is open air gambling. You also have lustful ah peks roaming the streets day and night, cigarette peddlars and other perverts and sickos plus drug rehab centre, tattoed members of triads, lion dance groups, etc. etc all bad for your children as well.
Ugh!
Actually, i really wonder who bought Dakota?
1).Dakota is surrounded by very poor hdb area.-sucks
2).Dakota is facing a school.-sucks
3).Dakota is facing a big drain.-sucks
4).Dakota is right across Geylang.-sucks, unless you want to get suck by(china mei mei)
5).Dakota is 99 leasehold.-really sucks.
Dakota is $900+psf. Who ever bought Dakota will be in negative equity in less than 1/2 years time. In fact, i will place a bet that the prices will go down by more than 40%, thanks to NTUC.
NTUC i thought was a GOV agency to fight for the rights of workers? How come sucking peoples money instead?
Newbie
[/QUOTE]
Kembangan is ok...affordable landed housing are there.
As for it being labelled as a Red Light District, its a bit far-fetched.
The negative aspect of Kembangan are the road names, all very malay sounding and the presence of many temples and mosques.
Newbie
suckers are getting bigger by the day.
Newbie
I went there, the agents quoted me $1000psf on average, ask me to book a unit fast...hahahaha...
its the biggest scam i have come across in a long time.
Hahahaha! I like your number 4 best! plus
6) Dakota has no tennis court - really really sucks big time!
Dakota buyers will be the first victims of the 2008 recession.
Yes, infact. UOB chairman Wee has already said this is the worst senario he has seen in 30 years, what else do people still need to hear to wake up their stupidity?!
[/QUOTE]
To correct your point, in fact Joo Chiat is in D15 itself. So does that mean D15 is not "high class". I know some very well established people with $$$ living in D15
Kembangan is in D14, so is the future Paya Lebar hub. District though impt but more impt is the area. I do agree that properties in Geylang is not a place to raise a family.
In fact, i think Kembangan is understated and undervalued, so near to future Paya Lebar Hub, and a stone thow away from Frankel/ Siglap bungalow area.
Btw, not vested in DR... there are better buys elsewhere.
Kembangan is ok...affordable landed housing are there.
As for it being labelled as a Red Light District, its a bit far-fetched.
The negative aspect of Kembangan are the road names, all very malay sounding and the presence of many temples and mosques.[/QUOTE]
I agree
Newbie
To correct your point, in fact Joo Chiat is in D15 itself. So does that mean D15 is not "high class". I know some very well established people with $$$ living in D15
Kembangan is in D14, so is the future Paya Lebar hub. District though impt but more impt is the area. I do agree that properties in Geylang is not a place to raise a family.
In fact, i think Kembangan is understated and undervalued, so near to future Paya Lebar Hub, and a stone thow away from Frankel/ Siglap bungalow area.
Btw, not vested in DR... there are better buys elsewhere.[/QUOTE]
very much agree.
very much agree.[/QUOTE]To correct your point, in fact Joo Chiat is in D15 itself. So does that mean D15 is not "high class". I know some very well established people with $$$ living in D15
Kembangan is in D14, so is the future Paya Lebar hub. District though impt but more impt is the area. I do agree that properties in Geylang is not a place to raise a family.
In fact, i think Kembangan is understated and undervalued, so near to future Paya Lebar Hub, and a stone thow away from Frankel/ Siglap bungalow area.
Btw, not vested in DR... there are better buys elsewhere.
Kembangan is a great place... quiet ... serene.... though in D14... prices have appreciated quite a bit in last 2 years.
I concur area rather than district is important. D14 is so big....
Everyone who is invested or just bought may be affected.
In fact.. I feel outlying projects...prices will fall faster if the economy really take a dip.
But... resale of HDB rising... same for rentals... will provide good support for mass market condo. If a HDB is selling for 700K... would you still buy HDB resale or buy a private condo or EC?
The view is fantastic.... people buying for the unblocked view of the South.
There are a lot of rick folks out there....
Besides... prob most are buying for their kids... to be near them. Look at those GCBs in mounbattan and tanjong katong...
Potentially may present one of the best opportunities to buy into the stock market...
Financial stocks in US are abt 20-30% of last year market cap.
Most recently launched Condo... dun have tennis courts... unless you are refering to the mega ones... fact of life.Hahahaha! I like your number 4 best! plus
6) Dakota has no tennis court - really really sucks big time!
All the taman and the jalans and the lorongs. Anyway, MRT already there. fully valued already. don't really like the Paya Lebar area as well - short flatted factories and offices - unlikely to be prestigious. Also why important to be near these factories/offices? If your office not there, traffic jam lagi worse. Now already traffic jam, even weekends.
To correct your point, in fact Joo Chiat is in D15 itself. So does that mean D15 is not "high class". I know some very well established people with $$$ living in D15
Kembangan is in D14, so is the future Paya Lebar hub. District though impt but more impt is the area. I do agree that properties in Geylang is not a place to raise a family.
In fact, i think Kembangan is understated and undervalued, so near to future Paya Lebar Hub, and a stone thow away from Frankel/ Siglap bungalow area.
Btw, not vested in DR... there are better buys elsewhere.[/QUOTE]
Anyone was at showflat over the weekend? Has the developer launched all stacks? I think sales is probably slow...
Very... very.... slow.... so who was the joker who said 10 units also sold this weekend? I think probably ZERO units sold more like it
Have been researching property for a while. If one is looking for good unblock view, proximity to CBD and mrt, similar price (about $1000psf) you may want to look at Southbank@ Lavender. Should have potential when concourse launches two new residential apartment at the end of the month.
How many carpark lots? Nowadays some horrible developers only 1 carpark lot per family. Really horrible. 2nd car must go find public carpark and visitors must go find public carpark also. Really horrible - most condo dwellers have 2 cars. So how?Very... very.... slow.... so who was the joker who said 10 units also sold this weekend? I think probably ZERO units sold more like it
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